Synageva BioPharma Corp Enters Development Collaboration with Mitsubishi Tanabe Pharma Corporation
-- R&D partnership to develop protein therapeutic for orphan disease target --
LEXINGTON, Mass.--(BUSINESS WIRE)--Synageva BioPharma Corp ("Synageva") announced today that it has formed a research and development partnership with Mitsubishi Tanabe Pharma Corporation (Head Office; Osaka, Japan, "MTPC") to develop a novel therapeutic for an undisclosed orphan disease using Synageva's product development capabilities and proprietary protein expression platform.
The partnership will be based on Synageva's expertise in the rare disease space and proprietary protein expression technology. The agreement stipulates an initial target for the research program. Under the terms of the agreement, Mitsubishi Tanabe Pharma will make an upfront payment of $3 million and will contribute additional research funds.
"This agreement illustrates Synageva's strategy to help fund our internal product development by selectively forming partnerships to create therapeutics for rare diseases not targeted by our pipeline products," said Sanj K. Patel, Synageva's President and Chief Executive Officer. "We look forward to a productive partnership with Mitsubishi Tanabe Pharma that should result in a new treatment for a devastating condition."
About Synageva BioPharma Corp.
Synageva is a clinical stage biopharmaceutical company focused on the discovery, development, and commercialization of therapeutic products for patients with life-threatening rare diseases and unmet medical need. SBC-102 has been granted orphan designations by the U.S. Food and Drug Administration ("FDA") and the European Medicines Agency ("EMA"), and fast track designation by the FDA. Synageva has several protein therapeutics in its pipeline, including two enzyme replacement therapies for lysosomal storage disorders and two programs for life-threatening genetic conditions for which there are currently no approved treatments. The Company has assembled a team with a proven record of bringing orphan therapies to patients.
Further information regarding Synageva BioPharma Corp. is available at http://www.synageva.com.
About Mitsubishi Tanabe Pharma Corp.
Mitsubishi Tanabe Pharma Corporation is a research-driven pharmaceutical company based in Japan, specializing in research, development and marketing of globally competitive pharmaceutical products focused on the immune and inflammatory field, and the metabolism and cardiovascular field. Mitsubishi Tanabe Pharma contributes to the healthier lives of people around the world through the creation of pharmaceuticals.
Synageva BioPharma Corp.
Kelley Forrest, 781-357-9900